New Independent Analyst Study: IT’s Push to Make an Impression with Customers Requires Performance Analytics
By Aaron Rudger | May 5, 2015
Digital transformation cannot happen without a strong IT and business relationship, yet both need to collaborate to deliver superior customer experience that ultimately drives revenue. So what makes a good match that enables these teams to work together?
Keynote recently commissioned Forrester Consulting to examine 210 IT and line of business decision-makers and found that majority of organizations lack the performance analytics to inform their digital transformation strategies. In the report, “Mind the Gap: A Study of Digital Strategy and Alignment Between Business and IT”, customer experience was the top factor in digital success.
However, with digital investments tied to customer experience, it can be challenging to define who owns the assets – IT, lines of business, or both. Sixty-three percent of survey respondents reported that IT operations makes decisions about digital investments, followed by a C-level executive focused exclusively on digital (41 percent).
As businesses use multiple digital channels to capitalize on acquiring, serving and growing customers, organizations must create cross-functional teams to identify, design, engineer, and analyze the results of digital initiatives and how they fit into and support the customer journey. In this study, Forrester found that 39 percent of companies already consider multiple roles to be responsible for digital investments related to customer experience.
But, in the fast moving world of digital, what often impedes these teams from succeeding is a lack of alignment around business goals. Overcoming this requires IT and the lines of business to align around common metrics. In fact, 35 percent of companies said that new user growth was their primary metric for success, followed by cost per acquisition of a customer (27 percent), and repeat visitors, app users (26 percent). These business metrics have a synergistic relationship with performance – without responsiveness or performance benchmarking, abandonment rates may increase and repeat visitors may decrease.
While many organizations don’t prioritize performance metrics, those that do are experiencing a return on their digital investments in the form of increased customer engagement, a higher bottom line, and customer retention rates that are higher than those of their competitors.
Don’t delay. Get your copy of the study “Mind the Gap: A Study of Digital Strategy and Alignment Between Business and IT."